Serious pricing dilemma should I charge less?

[*sarah*]

I'm having serious doubts about my pricing, I have always gone with the advice on here that you chould charge recommended prices and stuck to it, have tried a few offers but the clients I have seem to get it done regardless of offers or not
So today my cousin tells me her mums friend has just started doing nails and is charging £15 for shellac £22 for extensions (I don't do extensions anymore) but apparently shes booked solid making £500-£900 a week my best week in the last few years has been £600 and that was the best week I have ever done!
I don't know if its just she has a large network of people who like to have their nails done or not but I was gobsmacked and reallt made me think.
I'm reluctant to drop my prices, don't really know if its a good idea or not tbh but seriously need to make more money, and beauty services seem to be getting cheaper and cheaper in my area xx

 

[PixieBeauty]

Don't do it!! You charge what you think you deserve. I'd be surprised if anyone has just started doing nails & earns that much?! How many sets of gelish does she have to to to make £900 pw? 60, or 40 sets of acrylics. Do you honestly think she is doing that many? Try book in with her & find out! I'm sorry to sound cynical but that sounds to me like someone who had been in business a long time to get that many customers. I'd take it with a pinch of salt.

I'd only have to do 36 sets of Shellac (charging £25) to get £900 so approx half, she is using twice as much product so do the maths on who is working harder for their money.

Oh and this person, are they making £500 or £900 cos that's a big difference! I'd be willing to bet they've said they're busy but IF they were fully booked they COULD make up to xx a week.

What I'm saying is, you structure your pricing around your products, skill, clients & business. Forget others & certainly don't be changing your business plan based on something that seems like hearsay.

If you need to be increasing revenue why not look at Lynne's marketing thread or take a look at your upselling skills or do some advertising, packages or reward incentives? Xx

 

[lynn amber]

No don't do it u will only end up making less or working more hrs for the same ££ :-D

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